PROVIDENCE – Margaret “Peggy” Farrell has been named the new co-chair of the Rhode Island Business Plan Competition, the organization announced Tuesday.

Farrell, partner in the law firm of Hinckley, Allen & Snyder LLP, takes over for David Mitchell, who served as co-chair for the last two years.

“Peggy, who has served as a competition judge since 2006, possesses a deep understanding of what it takes to launch and nurture a new business, and will be an invaluable addition to our management team,” Larry Davidson, competition co-chair and principal at accounting firm Kahn, Litwin, Renza & Co. Ltd., said in prepared remarks.

Farrell has experience in high technology law, including intellectual property protection and licensing. She practices general corporate and securities law and has extensive experience in business formation, mergers and acquisitions, reorganizations and restructurings, strategic partnerships, private equity and venture capital financing and public securities offerings.

“The Rhode Island Business Plan Competition serves a unique and important role by assisting both aspiring and established entrepreneurs in launching new enterprises,” Farrell said in a statement. “It’s a privilege to work with the many talented professionals who give so much of their time to the competition to help build the next generation of businesses in the state.”

The 12-year-old Rhode Island Business Plan Competition intends to launch its 2013 competition next month.

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